Everyone kills themselves to get into Apollo/KKR PE, but looking at the Private Credit shops (Ares, HPS, Golub)... the hours are better (60h vs 90h), cash comp is nearly identical at the junior levels, and the carry seems safer in this rate environment. Why is PC still treated like the 'backup' option? The risk/reward seems way better.
| +60 | Take the Layoff or Quit? | 19 | 5h |
| +37 | Fund going shit but happy with life what to do? | 10 | 4h |
| +34 | PE PortCo Work | 18 | 3d |
| +24 | Rugpulled on Sr. ASO promote - how to fill a year (or two) before B school? | 7 | 4d |
| +22 | PE downturn- Impact on a PortCo CFO / Operating Partner | 2 | 2h |
| +17 | Practical uses of of AI in PE | 2 | 8h |
| +17 | First year PE analyst on medical leave after insane hours | 1 | 31m |
| +16 | Those who exited PE, When did you know it was time? | 6 | 3d |
| +16 | Career in PCA: GP-Led or LP-Led? | 3 | 15h |
| +14 | PE on cycle guide | 2 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
The lifestyle is better because the work is fundamentally different.
In PE, you are selling a growth story. In PC, you are looking for the 1% chance the company implodes. It's quite a pessimistic, downside-focused existence imo.
A lot of guys lateral to PC for the hours and realize 6 months later they are bored to tears reading credit agreements and arguing about covenants. Make sure you actually like the work not just the wlb
In addition to the difference in the work itself, the comp (carry) potential is greater in PE than PC. PC structurally generates lower returns (via less risk), receives lower performance fee rates (via lower returns), and carry is taxed at higher rates (interest-returns instead of capital gains).
Exercitationem maiores natus quam quia laudantium aliquam. Consequatur laboriosam ut quas. Sit eos velit illo esse tempore.
Corporis labore sunt itaque ut non. Soluta consequatur debitis ad esse quas et. Nihil suscipit enim quam quia voluptatum at saepe. Quo est pariatur eum sit. Aut est illo sint quos eos. Sint et aut ut nemo non odit.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...